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Company L expects that uncollectible accounts receivable will increase in the future. Which of the following will occur on the firms financial statements? Choose all
Company L expects that uncollectible accounts receivable will increase in the future. Which of the following will occur on the firms financial statements? Choose all that apply.
Net income is reduced. | ||
The gross amount of accounts receivables is reduced. | ||
The allowance account is reduced. | ||
Bad debt expense is increased. |
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